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Blockchain Weekly - Issue No. 2


BlockHash Research

February 15 · Issue #2 · View online

Covering the latest topics that move the market, chart signals that you should watch, the best low cap crypto projects and much more!

The past week has been pretty crazy for the blockchain industry. Let’s highlight some of the major headlines, just in case you missed them:
After a barrage of Tweets from Elon Musk stress-testing the market with Dogecoin, his company Tesla revealed that they had acquired $1.5B USD in Bitcoin. This honestly came out of nowhere, but maybe the writing was on the wall with this one.
As a result, there has been immediate speculation that another major corporation (Fortune 500 Company) could also reveal or make a large Bitcoin purchase. Some news has been swirling around Apple potentially putting cryptocurrency on their balance sheet to bolster the Apple Wallet. In theory, this might be a good move for the tech giant, instantly putting them in a position to capitalize on the crypto exchange/wallet market.
In all honesty, the Apple Wallet needs it. But there are other avenues now, such as Mastercard announcing that they will allow merchants to accept cryptocurrencies. This quietly blew the doors wide open. The Office of the Comptroller in 2020 gave banks the green light to develop crypto custody services. Now retailers have more incentive to utilize these services and begin marketing to their client base as a result of the reduced friction.
One more key thing to note. BNY Mellon, the oldest bank in the United States, is now on board the crypto train. This effectively puts the squeeze on JP Morgan and the rest of the Big Banks to get moving on developing crypto services and products. While I’ll never hold my crypto investments in a bank account for a number of reasons that I will discuss in a future newsletter issue, it will be a good starting point for small businesses to experiment. Imagine if Marijuana had that level of banking support 5 years ago. That industry would have gone parabolic. I see the same potential here now with blockchain and it’s fuel-injected rocket to the moon.
Now that I’ve covered what’s important from last week, let’s focus on this week going forward. Below you’ll find my chart analysis and breakdown for Bitcoin. For more charts and deeper insight, be sure to subscribe to Blockchain Insider (scroll down for more details).

Bitcoin (BTC)
The main strategies I chose to deploy were Bollinger Bands and MACD. I think these two perform very well together and give a good overview of Bitcoin’s direction. In future charts, I will use different strategies to give you a broader understanding of how to actively track breakout patterns to the upside (and downside).
Below is my prediction, both bullish and bearish, so you can determine both sides of the coin. It’s important to keep perspective and all possibilities on the table if you want to be an effective trader in a market that doesn’t sleep.
Bullish Prediction:
Bitcoin continues in its current trajectory and we blow past $50k by the end of the month, albeit sooner if we get more breaking news (such as Tesla investing $1.5B). I think this is the most likely scenario going into this week as there WILL be more Fortune 500 companies loading up their balance sheet with Bitcoin. Note: the MACD is still well over the moving average and the Heikin Ashi is still breaking the upper Bollinger Band. All good signs.
Bearish Prediction:
We have a retracement into a correction phase that lasts the rest of this Spring. There isn’t much indication that this will occur, but Bitcoin will need some time to cool off before making it’s inevitable approach to $100k. Note: There is a very strong line of resistance around $31k in which Bitcoin would be likely to bounce.
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This will give you more advanced charts and more crypto picks every week. An emphasis will be placed on deep market research into specific, trending topics of the week, key indicators using a variety of studies to gauge breakout patterns, my top picks with the best fundamentals and statistics for those that like to dig into the weeds.
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Listen to the BlockHash Podcast 🎙
Want to learn more about Blockchain and what’s being built on top of this incredible new technology? Give the Podcast a listen! Every week I interview new CEOs, Founders, Authors, Economists, Government Officials, Artists, and Influencers/Personalities in the space. Here’s what to expect this week.
Wednesday: Tieshun Roquerre | CEO of Namebase
“Namebase is building a domain registrar on top of a new DNS protocol called Handshake. We make Handshake easy for anyone to use, and since launch three months ago we’ve processed over $10M in transaction volume and thousands of Handshake name registrations.” Namebase
Friday: Luca Cosentino | Project Manager at Oasis Labs
“Oasis Labs is delivering a cloud computing platform on blockchain built for superior privacy, security and performance. Oasis’s integrated hardware-software technologies aim to enable computationally-intensive processes, like artificial intelligence, for the first time on a blockchain.” Oasis Labs
Stay tuned for the newsletter next Monday and thanks again for being a subscriber! Feel free to email me with any questions or suggestions you may have. Have a killer week trading!
Brandon Zemp
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